Board Paid Section 125 Plan. The Board shall provide at no cost to the employees a section 125 plan. According to the authority granted under section 125 of the Internal Revenue Code, employees who elect to shelter monies may do so by completing the appropriate election form provided by the District. The employee agrees to follow all rules and regulations of the Internal Revenue Code regarding the sheltering of such contributions. The Board of Education shall not be responsible for the failure of the above plan to meet the writing, enforceability, etc. as determined by the Internal Revenue Code. Should any of the above be declared improper by the Internal Revenue Service ruling or opinion, that clause or portion thereof shall be deleted from this Agreement to the extent it violates the ruling or opinion. Any individual financial liability because of an adverse ruling by the Internal Revenue Service shall be borne by the individual employee. The Board will pay only the monthly premium for each employee participating in the plan.
